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Debate House Prices


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Halifax Oct: +0.7% MoM +6.9% YoY

HAMISH_MCTAVISH
HAMISH_MCTAVISH Posts: 28,592 Forumite
Part of the Furniture 10,000 Posts Name Dropper Photogenic
in Debate House Prices & the Economy
British house prices are rising at their fastest annual rate in more than three years, mortgage lender Halifax reported on Wednesday, confirming a trend in the market that is giving some support to economic growth.

Halifax said average house prices in the three months to October were 6.9 percent higher than a year earlier compared to a 6.2 percent rise the month before, the biggest annual increase since May 2010 and in line with market forecasts.

Last week rival mortgage lender Nationwide reported a 5.8 percent annual rise in house prices for October, the biggest since July 2010.

Halifax said that in October alone, house prices rose by 0.7 percent, stronger than the 0.4 percent recorded in September but slower than the 0.9 percent forecast by economists.
http://uk.reuters.com/article/2013/11/06/uk-britain-housing-halifax-idUKBRE9A50AE20131106

Good.

:beer:
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
«1

Comments

  • blinko
    blinko Posts: 2,519 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 7 November 2013 at 12:26AM
    This is good if you own a house and are planning to sell within the next 3 years, jump on that Quantative home easing, pump up those prices an extra 5 - 10% but overall this is the start of a lot of pain !!

    anyway lets see
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 7 November 2013 at 7:10AM
    blinko wrote: »
    This is good if you own a house and are planning to sell within the next 3 years, jump on that Quantative home easing, pump up those prices an extra 5 - 10% but overall this is the start of a lot of pain !!

    anyway lets see

    :rotfl:

    Comedy Gold.... :)
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • Sibley
    Sibley Posts: 1,557 Forumite
    Ninth Anniversary Combo Breaker
    blinko wrote: »
    This is good if you own a house and are planning to sell within the next 3 years, jump on that Quantative home easing, pump up those prices an extra 5 - 10% but overall this is the start of a lot of pain !!

    anyway lets see


    Do we care?
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  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    So back to house prices.... :)
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • ILW
    ILW Posts: 18,333 Forumite
    blinko wrote: »
    This is good if you own a house and are planning to sell within the next 3 years, jump on that Quantative home easing, pump up those prices an extra 5 - 10% but overall this is the start of a lot of pain !!

    anyway lets see

    Even better if you own a few.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    London's up almost 9% on a year ago NSA according to the September figures:

    http://www.lloydsbankinggroup.com/media/excel/2013/RegionalHistoricalHousePriceDataQ32013.xls (opens in Excel)

    Buy shares in Foxtons!
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 7 November 2013 at 8:47AM
    Generali wrote: »
    London's up almost 9% on a year ago NSA according to the September figures:

    http://www.lloydsbankinggroup.com/media/excel/2013/RegionalHistoricalHousePriceDataQ32013.xls (opens in Excel)

    I am amazed at how the London market has picked up in the last couple of years, I didn't expect to be in this position for a few years from now.

    This is what I posted back in 2009:
    https://forums.moneysavingexpert.com/discussion/comment/22785083#Comment_22785083

    I am expecting something like this:

    1. Spring 2010 prices bottom out about 10% lower than now.
    2. Stagnation until about spring 2013.
    3. HPI back in 2013 but only at around 5%
    4. Prices get back to 2007 levels (that's not in real terms ie not incl. inflation) by about 2017

    But obviously a year might slip or be gained somewhere in the above.

    In real terms (incl. inflation) I think it's quite likely that we might never reach 2007 levels again, at least not for a very long time anyway.

    I was classed as a bull when stating the above!
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • THE_MASKED_TURNIP
    THE_MASKED_TURNIP Posts: 84 Forumite
    Thrusting a head.
  • Dribley
    Dribley Posts: 178 Forumite
    THE_MASKED_TURNIP wrote: »
    Thrusting a head.

    I'm sure you are ;)

    However, I think you'll find house prices are thrusting ahead :D
  • blinko
    blinko Posts: 2,519 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Generali wrote: »
    London's up almost 9% on a year ago NSA according to the September figures:

    http://www.lloydsbankinggroup.com/media/excel/2013/RegionalHistoricalHousePriceDataQ32013.xls (opens in Excel)

    Buy shares in Foxtons!
    that would be a better way to get access to the effects of H2B although of course you could always buy the house with H2B 2 and then sell before the 3 year period is up and enjoy that 0% interest on the first 5 years of the loan. In saying that it isn't like they can just withdraw the H2b 2 scheme like that, they will need to wind it down or politically it would be a dangerous game.

    Assuming a politician has the balls to remove the scheme, they may just kick the can down the road which is something they seem fantastic at.....
This discussion has been closed.
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